Share Name Share Symbol Market Type Share ISIN Share Description
Glen Group LSE:GLN London Ordinary Share GB00B04C8N02 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 0.06p 0.00p 0.00p - - - 0 06:37:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
1.5 -1.1 -0.1 - 0.72

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Date Time Title Posts
10/3/200909:11Glen Group852
30/1/200915:03Glen group3
14/5/200715:56Lets Short This Duffer out Of Business (Glen Group)GLN2
04/3/200711:03glen group-

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vinny1066: Knowing / FlyingSwan / All Interesting stuff . The Scots are keen to rely and promote their own in-house technology and there is no reason to exclude GLN . Seems , as i have said before , that it appears to be well run with a particular vision on where it wants to go . Given that so many Companies are at present quite lost in every respect it is at least some comfort that we can at least have a honest run at this one even though the actual share price is so so very low . Ar such levels the average punter is less likely to become involved as it seems so worthless a stock . I suspect that if it has a future it will consolidate ( 100=1> 7p ) It would give the stock liquidity and some status . Probably totally wrong but anyway just some thoughts on the matter . Still would prefer in the short-term a Management-Buy-Out . Regards Vince .
vinny1066: All Intersting to note that the share price has not dipped all day . Regards Vince .
fairdeal2008: Yes, building volume - at some stage it may translate into a share price movement lol....
vinny1066: All. Well we are in for a long trip on this one but if all goes well we should do okay. Half-Year figures should be the key as they will show how the company is managing under the financial climate . If thats okay then as things improve the company should also make ground . There is no real reason if the mid-figures are okay that they could not move into profit later this year . If so the Share Price would go much further . As it stands i would now wait and see if you hold this stock . I have a vested interest as i hold 10,000,000 for myself and 5,000,000 for my 2 kids . I will not add anymore until interms give some idea of how the company is doing . Regards Vince .
tornadodown: Volume has been picking up recently on the PLUS markets so as soon as this overhang has cleared the re-rating should be swift leading to a sharp increase in the share price.
vinny1066: Tornadodown Yeah the 3mil as a sell . Typical one might say . Not mentioned at all yesterday on ADVFN or on GLN SHARE CHAT . There has been a seller as my Broker was invited to buy some stock at slight discount to the price as the MM knew that they had a Client who was buying ( me ) So i got some stock better than the Bid / Offer showing : hence the sites showing that they were sells when infact they were buys . However on balance most deals are being registered as sells which is totally misleading . anyway the market size is now coming down and it should start to reflect in the price . Vince P.S. Bigbelter thanks for the info .
vinny1066: Mmmmmm you know whats its like . You make plans generally speaking a number of months ahead and if its with your partner any major change effects lots of things! I have had to re-jig my arrangements but at least it will give me more time with my 11yr old boy _ he loves camping and fishing and most things his dad likes . Yes EME has done me proud . The key is not to be greedy and buy in and be able to take the stock up if it goes wrong . This is my 5th time in them over the past few weeks . GLN is still okay and i think we may well see some movement with regards to the company and hopefully inturn with the share price . I think you will do well with your 650,000 as any movement North equates well to your investment . Are you in financial services yourself ?
ro5coe: whats going to happen to the share price now they have sold Eclectic Group Limited and I G Software Limited.. Will the £3m affect the share price?
stuart14: I've been watching here for yonks. I know Eclectic pretty well and think on its own it could double GLN's share price. However todays placing has stopped me investing for good. Far too many shares and placing at far too low a level. Why are'nt they trying to get the market interested in the Eclectic acquisition, rather than buying more Co's.....
bogoff: Please note: Your browser has been unable to load the stylesheet that accompanies this page. The page is still readable. [Accessibility statement] [Skip to navigation] Websites websites News Sport Business The Scotsman Scotland on Sunday Edinburgh Evening News Dating Jobs Motors Property Business Finder Member Centre Web Feeds Media Pack Site Help Digital Archive 1817-1950 Photo Gallery Reader Holidays Scotsman Calendar Money Fantasy Golf Haggis Hunt Edinburgh Festivals Heritage & Culture Living Weather Webcams Search | Site mapJobs | Property | Motors | Dating | MoneyEmail preferences Edit your details Log out phil logged in Sunday, 4th March 2007Top Stories Sun 4 Mar 2007 Printer friendly Send to friend Comments (0) Survivor of an Atlantic storm DOUGLAS FRIEDLI ( THE unremarkable offices of Graham Duncan's new company, hidden behind a supermarket in the former mining town of Straiton, are a stark reminder of the old adage that what goes up can also come down. Duncan was a pioneer of the 1990s technology revolution, the chief executive of Atlantic Telecom, with a £100m personal fortune and a seven-bedroom mansion in a smart Aberdeenshire village. But he lost it all when investors pulled the plug on the technology boom, leaving his company in ruins and his ambitions on hold. Nowadays he is trying to rebuild his business career and has just raised capital to expand Glen Group, an acquisitions vehicle he set up in the wake of Atlantic's collapse. The excitement that surrounded the surge of telecoms and dotcom businesses is long past and Duncan knows rebuilding his hopes will be a long and lonely journey. It is so different from the day in October 2001 when Atlantic, once valued at £2bn and sponsors of Aberdeen Football Club, collapsed with debts of £700m. Duncan had spent most of that day in London trying to convince investors to back a restructuring programme, only to learn it had all been in vain as he touched down at Aberdeen airport. Things got worse. At one point, his wife was pursued by reporters as angry subscribers and investors vented their fury. He was forced to sell his mansion with swimming pool and moved south, his business reputation badly damaged. Now he is fighting on a new front: attempting to make a small IT and telecoms business big enough to survive. His new company has just moved into its new premises in Midlothian. The unstaffed reception area is dominated by a perspex sign, 6ft wide, proclaiming this the headquarters of Glen Group, a world away from Atlantic's thousand-strong workforce. Sitting in an unadorned, first floor meeting room, he reflects on Atlantic's collapse. "I am not bitter," he says. "I understand that what happened was across the board and the public markets had to do what they had to do. The market was saying it did not want the stock that the industry had built up." He is content to talk about his experiences, but there is a hint of tetchiness in his voice as he says: "The real difficulty we had was funding being cut globally when we were still building the bloody networks. Nobody expected it to get cut so quickly. I always said you need five to seven years to get a profit from a network. In some cases, we were given just a month." Lessons have been learned for Glen Group, the company Duncan set up in 2002. "It is no coincidence that the business I have now does not require me to make capital spending every time I put on a customer." But starting again has brought fresh frustrations for Duncan, a chartered accountant by trade. He floated Glen, chaired by the former Arthur Andersen boss Eric Hagman, on the Alternative Investment Market in 2004 to raise money for acquisitions. His expansion plans hit a brick wall last year when Glen's share price fell below 1p, less than the par of the stock. According to stock market rules, a company cannot raise money at less than par value. The day before our interview, Duncan oversaw an extraordinary general meeting approve a redesignation of the company's 1p shares as 0.1p shares, allowing it to raise money in the future. Private investors also signalled their faith in the business by providing £500,000 to spend on due diligence on potential acquisition targets. Duncan is cagey about how close he is to acquiring companies; a couple of potential targets have been rejected but others are getting more interesting. "We did two deals last year and I would hope to do more than that this year, but it depends on what comes along. At the moment, the public markets are valuing business at below what private trades value them at, which can be frustrating." Part of the reason for getting bigger is to cover the overheads of a plc. "We are in this to make the business profitable. One problem is the cost of the listing. We have to pay more for accountancy services, for a nominated adviser, brokers, public relations people and so on. I reckon it costs between £300,000 and £400,000 a year just to maintain the listing. The more subsidiaries you have the more difference it makes." Duncan's mini empire now includes more than 50 sales and technical staff generating turnover of about £4m a year. The group operates through Glen Communications, headquartered in Rotherham, South Yorkshire, a telecoms and IT company focused on small business customers. Eclectic Group, based in Glasgow and London, advises companies on their business performance. And Explore IT, which has just moved from its Edinburgh home to Glen Group's HQ, provides IT services to small firms. But Duncan does not spend much time on the day-to-day minutiae: "I had the business set up so I can spend more time on the public face of it than running it. Subsidiaries have their own managing directors, giving me time to look at acquisitions." His shopping list of targets includes IT service businesses with small business customers, telecoms resellers, Eclectic "lookalike" consultancies and IT security businesses. He could be tempted by telecoms network service businesses, but nothing involving intensive capital spending. However, building a business from scratch is a time-consuming process, particularly with a share price in the doldrums. "At Atlantic, I found that it was easier to raise substantial sums of money than to raise smaller amounts, funnily enough. "The share price has not been good at all, because the market moves on very small share price movements. We lost £1m in market value when somebody sold just £400 worth of shares. It is all to do with supply and demand, but as a board it is very important that we do not chase the share price on a day-to-day basis." Duncan hopes to bring a bit of stability by bulking Glen up, boosting its market value and getting institutional investors interested. "We have no institutional investors at all. We have been trying to attract them, but it is hard at this level." Duncan admits that Glen joined Aim at the bottom of the scale, valuing the business at just £2m, and that may have hampered its profile. Then again, he had to start at the bottom with Atlantic, which he ran for 12 years before it floated, running cable TV in Aberdeen and buying businesses from the late Robert Maxwell. Despite everything, he is still a fan of the stock market. "If instead of floating we had been backed by private equity, the share price would not have been a consideration. In that regard, we might have grown faster. But it has not been that difficult to raise money on Aim. From an operating point of view, I still think it is a lot easier to build a business on the public markets." Duncan retains some old connections who include Martin Gilbert, the chief executive of Aberdeen Asset Management. The two have a number of things in common, apart from running businesses in Aberdeen. They both hit serious problems at about the same time, in Gilbert's case through the split capital trusts scandal. He still takes a close interest in the world of telecoms and reckons there are too many companies out there: "There are between 600 and 1,000 telecoms resellers in the UK. It has become a price-based service and the pricing has become commoditised. "I expect there is consolidation to be had among telecoms resellers. Some of these are what I call mom and pop businesses." He is an enthusiast for Voice Over IP (internet protocol) telephone service, one of Glen's main product lines, which he reasons will become more popular as smaller companies acquire broadband phone services and wonder what to do with them. And he shoots down the suggestion that Glen faces tough competition from the hundreds of companies doing similar things. "There is competition out there for certain of our product lines, but there are not many companies that can do all the things we do. There is a potential market for a one-stop-shop supplier in IT and telecoms. When we were setting this company up, we wanted broadband connections, mobile. Before you know where you are, you're dealing with three different people." Now living in Peebles, within easy commuting distance of Glen Group, Duncan says family is his only interest outside work. "I am 56. I don't want to retire, but I think I should at 65. I am keen to build Glen into a business that means something." He refuses to be disheartened by the trundling performance of Glen's stock. "Judge what has happened over five or six years and you will see whether we have done a good or a bad job," he says. This article: Last updated: 04-Mar-07 02:55 GMT Comments Add your commentAdd your comment Don't swear, be offensive or post comments that break the law. 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